M&A Deal Summary

Crestwood Midstream Partners Acquires Sendero

On June 3, 2022, Crestwood Midstream Partners acquired oil/gas exploration company Sendero from ECP for 600M USD

Acquisition Highlights
  • This is Crestwood Midstream Partners’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Crestwood Midstream Partners’ largest (disclosed) transaction.
  • This is Crestwood Midstream Partners’ 3rd transaction in the United States.
  • This is Crestwood Midstream Partners’ 2nd transaction in Texas.

M&A Deal Summary
Date 2022-06-03
Target Sendero
Sector Oil/Gas Exploration
Buyer(s) Crestwood Midstream Partners
Sellers(s) ECP
Deal Type Add-on Acquisition
Deal Value 600M USD

Target

Sendero

Houston, Texas, United States
Sendero is a premier gas gathering and processing business located in Eddy County, New Mexico, one of the most actively developed counties in the Permian Basin. Sendero was formed in 2014 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Crestwood Midstream Partners

Houston, Texas, United States
Category Company
Founded 2007
Sector Energy Services and Equipment
DESCRIPTION

Crestwood Midstream Partners LP is a provider of pipeline, gathering and processing, storage and other assets in the midstream energy sector to build a North American midstream business.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Texas) 2 of 2
Country (United States) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-01 Tristate Midstream

Denton, Texas, United States

Tristate Midstream is focused on the acquisition and construction of gathering systems and processing facilities. Tristate has a seasoned team, with an entrepreneurial spirit, a quest for excellence, and a desire to meet customer needs through reliable operations and creative business solutions.

Buy -

Seller(S) 1

SELLER

ECP

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ECP is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets. The Firm primarily targets opportunities located in North America. ECP was formed in 2005 and is based in Summit, New Jersey.

DEAL STATS #
Overall 21 of 24
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 9 of 12
State (Texas) 8 of 9
Country (United States) 21 of 22
Year (2022) 1 of 2
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Restaurant Technologies

Mendota Heights, Minnesota, United States

Restaurant Technologies is a foodservice industry partner, proudly serving more than 32,000 quick-service and full-service restaurant chains, independent restaurants, grocery delis, hotels, casinos, universities, and hospitals nationwide. The company helps make foodservice operations safer, smarter, and more efficient through cooking oil and hood and flue management solutions. It has a long history of sustainability, working with partners to provide used cooking oil as input into renewable diesel and biodiesel, creating an ESG-friendly process of recycled used cooking oil for its customers. Restaurant Technologies was formed in 1996 and is based in

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 PLH Group

Irving, Texas, United States

PLH Group provides full service construction and specialty contractor that serves the electric power line, pipeline, oil field electrical and industrial markets. PLH Group is based in Irving, Texas.

Sell $470M
Mergr

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